Liquid crystals (compounds) are extensively used in applications such as devices including displays and optical elements including retardation films. However, there is a desire for the development of new materials according to such purposes. A 2,3-dicycanohydroquinone derivative (trans-4-(trans-4′-alkylcyclohexyl)cyclohexanecarboxylic acid ester of a 3-alkyloxy-6-hydroxyphthalonitrile) is disclosed as a liquid-crystal material having negative permittivity anisotropy (see, for example, JP-A-59-10557). In applications such as displays including LCD's, there is a desire for the development of a liquid-crystal material superior in desired optical performance, etc. to liquid crystals heretofore in use.